Lateral Flow Assay Market,by Product Type,By Technique,By Application,by End User,and by Geography-G
In the field of on-site diagnostics, lateral flow assay (LFA) are well-established commercial product due to their ability of providing precise, fast, and low-cost result such as home-based pregnancy tests. Lateral flow assay technology are rapidly evolved over the years and routinely used for point-of-care and companion diagnostic applications. Moreover, technological advances to transform the assays from simple qualitative tests into complex multi-analyte quantitative assay are driving growth of the lateral flow assay market. Lateral flow assay market is projected to witness growth over the forecast period, owing to increasing application in medical diagnostics, high prevalence of infectious disease, increasing demand for point-of-care testing, and high adoption of home-based lateral flow assay test. The global lateral flow assay market was valued at US$ 5.6 billion in 2017 and is expected to witness a CAGR of 7.5% over the forecast period (2017 – 2025).